• “Sree Banashankari Mahila Co-operative Bank Ltd.,” was born out of dream and vision of a highly inspired and enterprising group of 15 like minded women, led by Smt. Prabha Shekar, a Post Graduate in science in Sericulture and an advocate of Women Empowerment. They thought of promoting a financial institution exclusively for women, of women and by women. The object was to provide opportunity for women in savings as well as obtaining financial assistance to improve their economic strength.
• The Bank was first formed as a Credit Co-operative Society under the Karnataka Co-Operative Society Act 1949, in October 1996. After obtaining the necessary license from Reserve Bank of India to do banking business, it became a Co-operative Bank from 8^th May 1997.
• It was a challenging task for the leaders to mobilize capital, membership and deposits, all without involvement of male members at any stage. The Bank was formally inaugurated on 9^th June 1997 by the then Chief Minster of Karnataka Sri. J.H.Patel and Smt. Sarvamangala Patel.

• Directors were successful in obtaining professional expertise and recruited employees, all women.

• Unfortunately, the founder President Smt Prabha Shekar seriously took ill and passed away on 3^rd November 1997, less than 6 months of the inception of the Bank.

• The rungs of leadership then fell in to the hands of a mature and dedicated Smt. Bhagya Chandrashekar then vice president of the Bank to continue the mission and carry on the institution as President, with another enterprising industrialist Smt. Shashikala V as Vice President.

• Since then, the Bank progressed fast and earned the trust and goodwill of the people. The Bank’s share capital has grown from 26.80 lakhs in 1997 to 131.58 in 2010. The deposits have reached the height of Rs.2237.35 lakhs from Rs 97.7 lakhs during this period. The advances have growth from Rs.41.98 lakhs to Rs. 1169.01 lakhs. The Bank has employed 10 people, again all women, from top management to operating and subsidiary staff.

• The Directors and the Staff received excellent training from various professional institutions and established good governance, thus receiving appreciation of RBI and the Government. Customer orientation has rendered the Bank to offer quality and timely services to customers turning them to experience delight of Banking experience.

• The Bank has also played an important role in the upliftment of the economically poor women, providing them opportunities of self-reliance and sustenance. Banks partners in this cause include Women Development Corporation, IDF, Chamber of Industries and Commerce, TESOK, etc.

Founder President, Late. Smt. Prabha Shekar having a word with Sonia Gandhi

The Bank has many First’s. To name a few,

1. The First Mahila Co-operative Bank to have professional directors in the Board since the inception.
2. The First Mahila Co-operative Bank to extend financial assistance to Self-help Groups through NGO’s.
3. The First Mahila Co-operative Bank to sell Gold coins to customers with tie up from ICICI Bank Ltd.
4. The First Mahila Bank to introduce Micro finance to the Pigmy Depositors.
5. The First Mahila Co-operative Bank to introduce Monthly Income Scheme at their doorstep exclusively for Senior Citizens.
6. The First Mahila Co-operative Bank to introduce UTI’s Pension scheme to its members.
7. The First Mahila Co-operative Bank to organize women entrepreneur development programmes and provide opportunity in extending marketing support through exhibitions and fairs annually
8. The First Mahila Co-operative Bank to provide financial assistance to women below poverty line to have their own shelter.
9. The First Mahila Co-operative Bank working with computers from day one.
10. The First Mahila Co-operative Bank to introduc7e close ended deposit schemes

• The Bank has assumed social responsibilities and conducted many non-banking services. Medical Check-up camps, distribution of notebooks and uniforms to schoolchildren, are among them.
• The Banks financial fundamentals are very strong. The Bank has experienced a steady growth in business. The Bank’s capital is about Rs. 131.58 lakhs and Deposits is 2237.35 lakhs, Advances is 1169.01 lakhs and Investments is 1171.31 lakhs as at present.

The Bank is of the few cooperative Banks making profits and distributing dividend to its members.

Please check our Financials section

At a time when Bank is entering a decade of service to the society, the management and the staff are not sitting merely on past achievements, but are making all round efforts to achieve excellence in all its endeavors to provide timely and quality services. Customer delight is what the Bank has determined to offer.

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